CAP has submitted a response to the Financial Conduct Authority’s consultation on guidance for firms supporting their existing mortgage borrowers impacted by the rising cost of living.
As we see more mortgage borrowers facing higher mortgage payments, alongside other increases in the cost of living, the FCA have published some draft guidance for firms. In this guidance we called for the FCA to provide more clarity and increased flexibility over what options firms can, and should, offer to customers in financial difficulty. We also made the point that firms should seek to ensure customers are making informed choices.
